Sompo Asset Management Co. Ltd. Raises Holdings in The Coca-Cola Company (NYSE:KO)

Sompo Asset Management Co. Ltd. increased its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 7.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 155,755 shares of the company's stock after purchasing an additional 10,220 shares during the period. Coca-Cola accounts for about 1.8% of Sompo Asset Management Co. Ltd.'s portfolio, making the stock its 11th largest position. Sompo Asset Management Co. Ltd.'s holdings in Coca-Cola were worth $11,193,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of KO. Harvest Portfolios Group Inc. purchased a new position in Coca-Cola during the 3rd quarter worth approximately $18,383,000. Balentine LLC raised its stake in shares of Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company's stock valued at $2,048,000 after buying an additional 13,685 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its holdings in shares of Coca-Cola by 104.9% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company's stock valued at $8,351,000 after buying an additional 59,503 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Coca-Cola by 5.8% in the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company's stock worth $61,122,000 after buying an additional 46,541 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in Coca-Cola by 4.8% during the third quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company's stock worth $32,895,000 after acquiring an additional 21,005 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 42,397 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company's stock, valued at approximately $30,987,070.92. This trade represents a 8.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. This trade represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 160,881 shares of company stock worth $10,693,244 in the last 90 days. Company insiders own 0.97% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on KO shares. Truist Financial boosted their price target on Coca-Cola from $70.00 to $80.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Cfra reiterated a "hold" rating on shares of Coca-Cola in a research note on Thursday, September 5th. Morgan Stanley dropped their price target on shares of Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Hsbc Global Res upgraded shares of Coca-Cola to a "strong-buy" rating in a research report on Friday, September 27th. Finally, Wells Fargo & Company raised their target price on Coca-Cola from $73.00 to $78.00 and gave the company an "overweight" rating in a research report on Monday, September 16th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $72.36.

Coca-Cola Stock Up 0.3 %

NYSE:KO traded up $0.16 during midday trading on Friday, hitting $63.92. 19,562,231 shares of the company were exchanged, compared to its average volume of 15,164,770. The company has a fifty day simple moving average of $67.79 and a 200 day simple moving average of $66.57. The company has a market capitalization of $275.35 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 3.87 and a beta of 0.61. The Coca-Cola Company has a fifty-two week low of $57.47 and a fifty-two week high of $73.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to analysts' expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business's revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 EPS. As a group, equities analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.04%. Coca-Cola's dividend payout ratio (DPR) is 80.17%.

Coca-Cola Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.